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Libya's oil impasse

Libya's oil impasse

Report summary

Since mid-2014, two competing governments and militias allied to them have contested Libya's legitimacy. With neither side holding the military balance of power, a stalemate has ensued. The eastern House of Representatives (HoR) assembly has set up a parallel rival National Oil Company (NOC) and Central Bank in an attempt to dominate oil revenues and side-line the Tripoli based NOC and Central Bank, two of the last functioning state institutions. So far, its attempts to persuade IOCs and crude buyers bypass the capital have failed. IOCs will likely continue to honour contracts signed with the Tripoli based NOC under western pressure and the uncertain legality of dealing with a new eastern entity.
Libya's oil production has declined steeply again since recovering from the civil war of 2011. We anticipate a long-drawn out recovery, punctuated by stop-start production as militias use oil and gas infrastructure to leverage influence.  

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  • Libya's oil impasse PDF - 388.07 KB 4 Pages, 0 Tables, 2 Figures

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

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  • Executive summary
    • A political stalemate
    • East's plans to sell oil independently likely to fail as NOC remains neutral
    • Stagnant production
    • A bumpy recovery
    • What next for Libya?

In this report there are 2 tables or charts, including:

  • Executive summary
    • Libyan oil and gas fields and infrastructure under force majeure
    • Libyan oil and gas production and foreign currency (2008-2030)
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